BNCCORP, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 29, 2013 at 07:00 am EST
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BNCCORP, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, net interest income was $4.660 million against $5.009 million a year ago. Income before income taxes was $5.353 million against $1.414 million a year ago. Net income available to common shareholders was $4.608 million or $1.34 per diluted share against $1.036 million or $0.31 per diluted share a year ago. Results reflect sharply higher non-interest income, which more than offset lower net interest income and higher non-interest expense when compared to the fourth quarter of 2011.
For the year, net interest income was $18.471 million against $19.477 million a year ago. Income before income taxes was $21.344 million against $4.230 million a year ago. Net income available to common shareholders was $25.162 million or $7.52 per diluted share against $2.814 million or $0.86 per diluted share a year ago.
BNCCORP, INC. is a bank holding company of BNC National Bank (the Bank). The Bank is engaged in providing banking and wealth management services to businesses and consumers in its local markets. The Company operates community banking and wealth management businesses in North Dakota and Arizona from 11 locations. The Company operates through two segments: Community Banking and Holding Company. The Community Banking segment provides products and services, such as personal loans, commercial real estate loans, SBA loans, business and personal checking, cash management, as well as trust and wealth management services, and retirement plan administration. These products and services are supported through Web and mobile-based applications. It earns interest primarily on loans and debt securities, bank card fees, loan fees, services charges on deposits, and fees on wealth management services. The Holding Company segment consists of management fees charged to the community banking services.